10 Reason You Should Have a Budget. – Money Monday #4

This is going to be the year of change for me. One of the ways I am going to change is to take control of my money. Through doing research, I decided to make a budget. That word just makes me cringe, but if I want control, I have to suck it up and dive in.

The internet is an incredible place and you can find information on any subject. So much so it sometimes it is overwhelming. That is exactly how I felt. I decided I need to break it down into little bite size pieces for me to stay motivated. The first step is why should I budget?

10 reasons WHY to Budget

1. Control

You might be thinking, “I am in control of my money all the time.” Well, when you have a budget you always know where your money is going. You are not throwing money at things to put out fires, hoping you have enough money to last until the next paycheck.

2. Meet your goals

What are your goals? Paying of your house off early, a new car, saving for college or retirement, improving your credit. Whatever they are, knowing where your money is going is part of meeting goals. Personally, this is a big one for me. I am working hard to meet goals.

3. Prioritize

This one goes along with #2. A budget helps you decide what is important to you. Going out to eat, or making something at home which saves you money to pay off your credit card?

4. A plan

If you want to meet your goals a budget is part of a plan to reach them.

5. Get out of a rut

If you want things to change you have to get out of your comfort zone. Shake things up. Decided to get out of that spending rut. Making a good cup of coffee at home instead of buying one on the way to work.

6. Cut Back

Having a budget will show you where you can cut back on your expenses. It makes you realize you may be spending too much on your phone or cable bills or your morning coffee. Whatever it is when you know how much you are spending then you will know where you can cut back.

7. Worry and fights

Worrying about money and the fights it can create with your partner are very stressful. Which is no good for your health or relationships. Having a budget and agreeing to that budget relieves the pressure.

8. Save

Having a budget can help you save money. You can also design it so you are paying yourself first not with what is left over at the end of the month.

9. Stops overspending

Going into debt and overspending each month is never a good idea. You are wasting your money on fees and interest. Having control of your money through a budget will help you rid yourself of the debt and control the overspending.

10. Clean up credit.

Having a good credit score is a very important thing. It will saving you money in the long run. Want a new car? If you have good credit you will get a lower interest rate and save money.

These 10 reasons to have a budget are very motivational to get control of my money. I hope the “WHY” you should budget will inspire you to budget and get control of your money. If not at the very least get you to thinking about it.

Do you use a budget? How is it working for you? If so I would love to hear about it. Leave me a comment below.